Alert June 28, 2011

Bank Regulators Extend Comment Period on Proposed Rulemaking on Margin and Capital Requirements for Registered Swap Dealers, Major Swap Participants, Security-Based Swap Dealers and Major Security-Based Swap Participants

The OCC, FRB, FDIC, Farm Credit Administration and the Federal Housing Finance Agency extended the comment period until July 11, 2011 on proposed joint rulemaking that would establish minimum margin and capital requirements for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants as required by the Dodd-Frank Act. The comment period had originally been set to end on June 24, 2011 (as discussed in the May 31, 2011 Alert).